VW announces potential $5B partnership with Rivian; could help Georgia EV plant
How much will Volkswagen initially invest in Rivian?
Volkswagen will initially invest $1 billion in Rivian as part of a potential $5 billion partnership to develop electric vehicle software technologies. The joint venture aims to create next-generation software-defined vehicle platforms, with Rivian's technology serving as the foundation for the new software platform used by both companies in their future EVs.
What are the terms of Volkswagen's investment in Rivian?
Volkswagen is investing up to $5 billion in Rivian, with an initial investment of $1 billion through a convertible note offering. The note will convert into a direct shareholding in Rivian upon receiving necessary regulatory approvals1. Additional investments of up to $4 billion are planned through 2026, subject to the partnership achieving specific milestones.
What is the total value of the Rivian-Volkswagen joint venture?
The total value of the Rivian-Volkswagen joint venture is up to $5 billion. The partnership includes an initial investment of $1 billion by Volkswagen in Rivian, with an additional $4 billion in potential investments through 2026. The joint venture aims to develop next-generation software-defined vehicle platforms for both companies' future electric vehicles5.